Stock market crashed, Companies lost money, Unemployment, Less people to buy products, Many Companies/banks went out of business or simply shrunk.
less new jobs
Better productivity from smaller amount of people, less people earning money 2 buy products
Tariff wars, Congress passed a high tariff, other countries repeated and then bought no U.S. goods., U.S. productivity decreased, Soviets sell wheat at half U.S. price to pay back Austrian Banks, Austrians borrowed from German Banks, Austrian/German Banks went into bankruptcy., German Banks Borrowed from U.S. Banks= the loss of life savings of Thousands of Americans., Hoover was increasingly unpopular, Wouldn't involve himself in direct governmental help to the people., By the next election 1 out 4 Americans were unemployed., American income was half pf what it was in 1929, People started protesting and marching on Washington demanding aid., Dispersed by the army.